TIMELY TOPICS
THOMAS, NORMAN
TIMELY ToPICS By Norman Thomas every week the presidential candidate pauses in his campaign to hammer out pithy comment on the anvil of Socialist philosophy and ripe experience And We...
...Insult's purchase or attempted purchase of public officials and leaders of public opinion...
...It consists of setting some men to watching other men work...
...12th Avenue, between Grand and Jamaica Avenues, Queens, where with him Charles Solomon, James Oneal and Nathan Fine will occupy the platform...
...a t the Brownsville Labor Lyceum, 219 Sackman St., where other speakers will be Dr...
...Insull contributed liberally to the campaign funds s>l two Republican factions as well as to the Democratic Party in their contest for a seat in the United States Senate...
...and, two, the obvious folly of continuing to try to regulate this sordid gambler's grab game of a power trust instead of owning it publicly and managing it for the public use...
...That is what capitalism essentially has become in its dying hours...
...Newspapers, the largest of which had one of its financial reporters on Insull's insiders' list, played everything down so as not to shake public's confidence . In the equity preceding, the court at first appointed Insull himself as receiver...
...What a Story— If We Know the Moral WHAT a story...
...Board members said the Socialists had more than the 10,000 signatures required by law while the Prohlbltlonista had less than 800...
...The Price America Pnye for JThia * I N good tmes the Insulls, with legal help, pyramided holding * companies until according to John T. Flynn's calculations, one dollar in Middle West controlled $1,750 of basic capitalization in certain operating companies...
...To the Democrats Mr...
...This is the mess Governor Roosevelt thinks he can clear up by an eight point program he now puts forth but which he has not applied successfully in his own state...
...When regulation has broken down for railroads it is no time to try to improve it for the power trust...
...The audit of the Mississippi Valley Utility Investment Corporation, which Bhowed a strange variety and character of loans to officers and investments, showed that a book value of $49,000,000 has slumped to $9,000,000...
...And as proof that easy money appeals to Democrats, high and low, as well as to Republicans, we have the fact that the eminent Mr...
...Great banks which had been caught hnxvilv trier...
...Mayor Hoan Coming To Make Fight for New York Ticket Daniel W. Hoan, Socialist mayor of Milwaukee whose administration has aroused to much admiration for its economy and efficiency without limiting its comprehensive program of social services, is coming to New York to help the local campaign...
...ilcsneratelv not to fret the holding companies into bankruptcy...
...The Board, however, rejected a petition to place Presidential electors for the Prohibition party on the ticket...
...Samuel Ettleson, chief Insull lawyer, was for many and long periods the actual mayor of Chicago during the late and unlamented reign of Big Bill Thompson...
...It demands a new program, the new vision, the new philosophy, and the new organization of Socialism...
...And despite what consumers paid—never forget that consumers did pay for all this in rates—investors have lost terrifically...
...Over 50'/r> f the domestic users of electricity in New York City pay more than they did when he becams Governor because of an unwarranted service charge...
...In that year he gave $125,000 to Frank L. Smith and $10,000 to Senator McKinley, Smith's opponent in the Republican primary...
...SocialioU Win Place R'ALEIGH, N. C. — The State Bard of Elections has adopted a resolution placing the names of Presidential electors of the Socialist Party on the North Carolina ballot for the November election...
...They were leading actors in a general scheme of financing power development under private ownership which careful estimate shows must cost the American public at least $1,000,000 a day more than it needs to pay for light and power...
...In 1930 Mr...
...Hoan makes his first speeches Thursday night, when he speaks at P. S. 205, 67th Street and 20th Avenue, Brooklyn, with B. C. Vladeck, William M. Feigenbaum, Harry Haskel and others as additional speakers...
...and at P. S. 70...
...Louis Sadoff, Jack Altman, Samuel H. Friedman and others...
...In 1926, Mr...
...that leaders of high standing and politicians were virtually bribed by Insult's "generosity...
...that for six months newspapers and prosecuting officials contrived to play down the truth...
...It was Brennan in 1927 who as campaign manager for Mayor Dever tried to stop exposures of the Thompson-Insull connections...
...Samuel Insull was kind to both major political parties as they were kind to him...
...The facts in this connection speak for themselves...
...They share moral if not legal responsibility...
...When the Insull house of cards collapsed what happened...
...TIMELY ToPICS By Norman Thomas every week the presidential candidate pauses in his campaign to hammer out pithy comment on the anvil of Socialist philosophy and ripe experience And We Learn a Leaaon I INTEND tu use auch revelations as have come to light in * the strange adventures of the Insult Holding Companies to illustrate two things: One, the racketeering stage which capitalism has reached and the poieon of its virus on the public, leading financiers, newspapers and bar associations...
...ltutu.ll got from Chicago his long sought for perpetual monopoly of Chicago streets for his consolidated traction system...
...Regulation is the essense of bureaucracy...
...And the audit of the Middle West Utilities appears to show a loss to investors of $714,000,000...
...They were participants in a great racket, or else unable to detect a great racket and continued to contenance it...
...Owen D. Young heads a list of Democrats who are on the Insull list of favorite insiders...
...What we must have is public ownership...
...The Boards of Directors of his companies included soma of our leading financiers...
...The Insull failure was riot a mere personal dereliction...
...It is paralleled by the story of the South American loans, and Kreuger and Toll...
...The situation demands not an impossible regulation of the system by the appointees of its political tools, the Democratic and Republican parties...
...In the public utility field while the Electric Bond and Share may have stayed within the law, they have cost investors and public dearly...
...The audit of the Utility Investments Corporation seems to *show t deficit of $78,000,000 with an estimated aggregate loss of $226,000,000...
...His Excursions Into Politics— And what He Got for It AND what method of corrupting government * • equals Mr...
...Insull gave a contribution of $15,000 to help elect George E. Brennan to the United States Senate...
...It requires no expert to realize that the custom of permitting advance purchase of stock at half the market value is legalized robbery...
...And it is not unique...
...Friday night Hoan will be guest of honor at the Hoan-Hillquit dinner at Park Palace, and at 8.45 the Mayor will speak over WEVD...
Vol. 14 • October 1932 • No. 14
